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Gold & Silver DAILY NEWS

The gold and silver markets have rallied during the last three weeks, and despite brief hiccups in gold and silver prices, the prices of both metals are currently near six-week highs. As of 8am EST … Read More

Everyone is discussing silver’s potential.

Post by Janet Jones
on September 20, 2011

Everyone is discussing silver’s potential. Although gold has rallied on with increases that have basically quintupled since the decade began, from less than $300 to over $1800 an ounce making investments soar, a silver investment would have profited much better:

Gold-June 2001, $10,000 investment NOW-$50,000

Silver-June 2001, $10,000 investment NOW…a whopping $80,000

If we contemplate this $30,000 difference, we can easily see how it could be considered the new precious metal. There is proof that it could rapidly substitute gold as the metal of preference for investors. Some analysts have even gone as far to predict silver prices as high as $90 an ounce by the end of 2011 which would signify it would have doubled from its existing price.

On the other hand, gold may take a break and float around $1,500 an ounce during the year, implying there won’t be much, if any, money to be made for now.

The resplendent silver metal has soared for many of the same reasons as gold:

The most important being prevalent panic about the state and course of the weakening economy.

With economic quandary in the air and a menace of higher inflation, as there is at the present moment, precious metals turn ever more popular because of their seeming security and standing as tough inflation hedges.

Silver’s great benefit is not parallel to gold’s, which is acting as a store of value. Instead, silver, in addition to proving an inflation hedge and serving to cool investors, has many purposes in industry, medicine, and dentistry on account of its electrical and thermal conductivity, utility in making metal alloys, as well as other exclusive properties. The percentage of annual silver demand from commercial and industrial applications is about 60%.